Zcash surges 14% to $1,300 ahead of NU7 upgrade on November 5, though exchange netflows suggest potential selling pressure.
Tech & Launches ·
Zcash's price rose more than 14% over 24 hours to surpass $1,300, according to reporting on market movements. The asset is being watched ahead of the NU7 upgrade scheduled for November 5, which would reduce block time; analysts see the upgrade as a potential catalyst for continued gains.
The price movement reflects broader bullish expectations among traders. However, exchange netflows show increased activity moving assets to centralized platforms, signaling heightened selling pressure from investors. This dynamic creates tension between the optimism surrounding the upgrade and the on-chain behavior of market participants.
What remains unclear is whether selling pressure will intensify after the November 5 event or whether the upgrade's technical improvements will sustain upward momentum. The outcome will likely depend on how the market prices in the upgrade's benefits once implementation is complete.